AECOM Technology Corporation (NYSE:ACM), a leading provider of
professional technical and management support services for public and
private clients in more than 140 countries around the world, announced
today that it has signed an agreement with the Libyan government’s
Housing and Infrastructure Board (HIB) authorizing work valued at US$209
million over a 25-month period.
This agreement establishes AECOM as the lead program manager for the
Libyan HIB for all urban areas throughout the country. According to the
contract, AECOM will serve as the overall program manager of the HIB
capital budget program — a comprehensive housing and infrastructure
development program for Libya that will create an enhanced environment
for its citizens and visitors — which has a current contracted value of
more than US$36 billion. As the program expands and becomes fully
reestablished, the HIB capital budget program is expected to exceed
US$100 billion addressing critical housing and infrastructure needs
throughout the country. AECOM led the HIB’s housing and infrastructure
program from 2007 until it was suspended in 2011.
Additionally, the agreement signed today establishes AECOM as the main
advisor to the Ministry of Housing and Utilities (MHU), which oversees
the HIB and other agencies, with responsibility for ensuring that common
systems and standards are applied to similar projects in other MHU
agencies. As such, once the current contract value or timeframe is met
(whichever comes first), AECOM’s role may expand to align with the scope
of HIB and MHU programs.
“We look forward to engaging in our work to advance the quality of life
for the Libyan people in terms of housing and critical infrastructure,”
said John M. Dionisio, AECOM chairman and chief executive officer.
The scope of this effort on the part of the Libyan HIB includes the
construction of new housing and infrastructure systems for all cities in
Libya; urban design and development; housing units and residential
settlements; upgrades to existing infrastructure, roads, highways,
bridges, water, wastewater and other utility systems; and
environmentally focused, sustainable processes.
“This contract with AECOM reflects the significant commitment that Libya
is making in reestablishing the development of our national housing and
infrastructure program,” said Ali Sharif, minister, Libyan Ministry of
Housing and Utilities. “We are moving forward to enhance the quality of
life of our people and the economic potential of our country through
this major housing and infrastructure development initiative.”
The program scope also includes the knowledge transfer and training of
Libyan executives, engineers, and technical specialists with a focus on
business fundamentals as well as more-specialized subjects, including
program management, construction management and inspection, as well as
planning and design.
“We are delighted to advance our partnership with AECOM and its global
network of expertise and resources as we move forward in this exciting
restart of our work for our nation,” Sharif added.
According to Sharif, AECOM will serve as the lead program manager
administering the HIB’s capital program and will work with the HIB and
ministry staff in overseeing the hundreds of technical professionals on
the program, and all outside consultant firms retained for specific
planning, design and construction management roles. Additionally, AECOM
will work with the HIB and ministry to restart and implement
construction contracts throughout Libya.
About AECOM
AECOM is a global provider of professional technical and management
support services to a broad range of markets, including transportation,
facilities, environmental, energy, water and government. With
approximately 45,000 employees around the world, AECOM is a leader in
all of the key markets that it serves. AECOM provides a blend of global
reach, local knowledge, innovation and technical excellence in
delivering solutions that create, enhance and sustain the world's built,
natural, and social environments. A Fortune 500 company, AECOM
serves clients in more than 140 countries and had revenue of
$8.2 billion during the 12 months ended Sept. 30, 2013. More information
on AECOM and its services can be found at www.aecom.com.
Forward-Looking Statements: All statements in this press release
other than statements of historical fact are "forward-looking
statements" for purposes of federal and state securities laws, including
any projections of earnings, statements of plans for future operations
or expected revenue. Actual results could differ materially from
those projected or assumed in any of our forward-looking statements. Important
factors that could cause actual results to differ materially from our
forward-looking statements are set forth in our annual report on Form
10-K for the fiscal year ended Sept. 30, 2013, and our other reports
filed with the U.S. Securities and Exchange Commission. AECOM
does not intend, and undertakes no obligation, to update any
forward-looking statement.
NR 13-1201
Copyright Business Wire 2013